Omission of SDT by Finance Act 2017, renders it non-existent from inception: ITAT Bangalore

Texport Overseas Private Limited (the Appellant) vs. Deputy Commissioner of Income-tax (the Respondent) Income-Tax Appellate Tribunal, Bangalore [IT(TP)A No. 1722/Bang. 2017, AY 2013-14] Whether the omission of reference of section 40A(2)(b) from section 92BA by virtue of the amendment of Finance Act, 2017 w.e.f. 01.04.2017 shall be deemed not to be on the statute since its introduction w.e.f. 01.04.2012? The Income-tax Act, 1961 (the Act) was amended prospectively by the Finance Act, 2012, to provide for a mechanism to determine the fair market value in cases of domestic transactions of re...